Rays avoid arbitration with 2012 American League Cy Young Award winner David Price

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From ESPN’s Jerry Crasnick comes word that the Rays and left-hander David Price avoided salary arbitration Tuesday by agreeing to a one-year deal.

The exact financial details haven’t been disclosed.

Price, a Super Two qualifier who’s arbitration-eligible for the second time, turned in a dominant 2.56 ERA, 1.10 WHIP and 8.7 K/9 in 31 starts last season for Tampa Bay en route to capturing Cy Young Award honors in the American League. He was named an All-Star in July and wound up with a few MVP votes.

The 27-year-old southpaw is not eligible for free agency until after the 2015 campaign. He owns a 3.16 career ERA through four-plus MLB seasons.

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UPDATE, 7:47 PM: According to Joe Smith of the Tampa Bay Times, Price will get “just over $10 million” in 2013. That’s more than double the $4.35 million he made last season in his first year of salary arbitration.

Michael Pineda throws off mound for first time since Tommy John surgery

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According to MLB.com associate reporter Jarrid Denney, right-hander Michael Pineda threw off a mound Wednesday morning at Target Field for the first time since undergoing Tommy John surgery.

Pineda was signed to a two-year, $10 million free agent contract this winter by the Twins, who are probably more focused on what he might be able to do in 2019 rather than 2018.

He had the reconstructive elbow surgery last July 18, so he won’t be an option for the Minnesota rotation until probably late August or September of this year. Still, that deal seems like a nice gamble given the price point and the possibility that he will regain his form as a No. 2 or No. 3 starter. That he’s making steady progress in his rehab makes the situation all the more encouraging.

Pineda, 29, holds a 4.05 ERA, 1.19 WHIP, and 687 strikeouts in 680 career major league innings.